I write often on this blog about the struggles of being a solo operator. I do this, even though sometimes I say too much on a blog my clients read, because I think it’s important for people to know what life is like for us solo operators. It ain’t easy. And it’s getting harder and […]
Before you read this post, read “The Tax Field is Broken” for background. When I take on a new client who was working with a prior preparer, almost 100% of the time the client isn’t just dissatisfied with their prior preparer, but there’s hatred in the client’s voice (and yes, “hate” is the right word). […]
Imagine that you run a local diner. In the past, you’ve had busy times such as the lunch rush or dinner rush where it’s overwhelming, but the busy times come and go and most of the time it’s just “running a diner.” You serve diner food to patrons who expect diner food at local-hole-in-the-wall prices […]
The bookkeeping software company Xero recently released a report, available here, which shows that “millennial” business owners are unhappy with their accountants — 50% are unhappy and are looking to switch to someone else, 33% say they only “receive insights” twice a year at most, and 20% say they would NOT recommend their advisor to […]
First of all if one were to really dig into ways to reform the tax system in this country, there are MANY things one could come up with. This particular wish of mine is 1) not the most important reform, and 2) not realistic anyway. It’s simply something I felt like writing about. I perfectionist […]
I have decided to make this a running feature on my blog, to show just how hard taxes are. I am regarded as a “tax expert” and present CPE courses to other tax pros almost every day. Yet I learn new things multiple times a day, EVERY DAY (even on days I choose to check […]
One time, someone (who is not a client) said to me: “I get paid as a 1099 consultant, but my CPA has it all run through my LLC so I don’t have to pay taxes on it.” Another time I took over as the tax preparer for an S-corp — a one-owner, service-based business where […]
I HATE being called a tax expert.
In my experience, there are 4 things that determine if a small business will survive.